Baumart Holdings' (ASX:BMH) AU$3.5 million write-down of its investment in Australian Sunny Glass Group likely impacted its stock price, the company told the Australian Securities Exchange on Jan. 10 in response to the bourse's query letter.
BMH's directors decided to divest the glass products manufacturer and supplier's shares due to operational issues, including site closures, limited market liquidity, a leadership transition, and lack of contribution to the company's objectives, according to an Australian bourse filing.
The company confirmed that it will be able to pay its debts, the filing said.
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